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VEAM (ticker: VEA-UPCoM) has issued a disclosure explaining the causes and outlining a remediation plan for the stock that has been placed on the warning list. The warning is linked to qualified audit opinions reflected in the company’s financial statements.
The main reason for the warning is that VEAM’s financial statements for 2023, 2024 and 2025 carry a qualified audit opinion.
VEAM states that all documents explaining the qualified opinions for 2023, 2024 and 2025 were disclosed in a timely and complete manner in accordance with Circular 96/2020/TT-BTC dated 16 November 2020 of the Ministry of Finance on information disclosure in the securities market.
VEAM says it has recognized allowances to reduce inventory impairment based on net realizable value determined by valuation reports. The company and its subsidiaries are developing an auction plan for stock cars and promoting sales policies for other items to clear aging, slow-moving inventory as soon as possible.
VEAM also plans to expand nationwide dealer networks and participate in agricultural exhibitions to promote products. It notes that some export items are no longer viable, and units have shifted to domestic sales.
VEAM will actively study the four-wheel-drive tractor MK4B market with professional market consultants to inform investment decisions. It will pilot an MK4B gearbox based on the Li-xang ISEKI design, leveraging existing mechanical production capacity within the Group and external units to minimize total production investment.
In addition, VEAM will continue to cooperate with the Hanoi Civil Judgment Enforcement Office to strengthen the recovery of compensation from related parties as required.
VEAM says the units are continuing to review and compile customer debt files to establish the basis for recognizing bad debt provisions under applicable rules. The units have formed a Debt Recovery Committee and are actively pursuing collections.
VEAM notes that the cost of idle processing mainly comprises depreciation of fixed assets, interest expenses, and other prior-year costs. To restructure operations, Matexim has drawn up a capital restructuring plan, which is under review to identify the optimal solution.
For the investment in Nam Sao Hanoi Co., VEAM says that in the near term it will direct TAMAC to collect full documentation to support the recoverability assessment of the financial investment in Nam Sao Hanoi Co.
Separately, VCSC published an assessment of VEA noting strong growth in passenger car sales in Q1 2026, with March sales recovering after Tet.
VCSC’s notes include broad optimism on domestic auto demand, the shift toward EVs, and the resilience of VinFast’s model lineup, while also monitoring the impact of policy and macro factors on overall EV adoption.
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